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Kinross Gold Corporation (KGC)’s Stock Price Falls Due To Weak Fundamental Momentum

Kinross Gold Corporation (NYSE:KGC) has a beta value of 0.86 and has seen 4.88 million shares traded in the recent trading session. The company, currently valued at $5.90B, closed the recent trade at $4.76 per share which meant it gained $0.02 on the day or 0.53% during that session. The KGC stock price is -33.19% off its 52-week high price of $6.34 and 36.97% above the 52-week low of $3.00. If we look at the company’s 10-day average daily trading volume, we find that it stood at 15.15 million shares traded. The 3-month trading volume is 16.63 million shares.

The consensus among analysts is that Kinross Gold Corporation (KGC) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 7 out of 17 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.07.

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Kinross Gold Corporation (NYSE:KGC) trade information

Sporting 0.53% in the green today, with the highest price hit on Monday, 01/23/23 when the KGC stock price touched $4.76 or saw a rise of 0.42%. Year-to-date, Kinross Gold Corporation shares have moved 15.89%, while the 5-day performance has seen it change 0.00%. Over the past 30 days, the shares of Kinross Gold Corporation (NYSE:KGC) have changed 13.13%. Short interest in the company has seen 60.26 million shares shorted with days to cover at 3.06.

Wall Street analysts have a consensus price target for the stock at $5.45, which means that the shares’ value could jump 12.66% from the levels at last check today. The projected low price target is $3.75 while the price target rests at a high of $7.47. In that case, then, we find that the latest price level in today’s session is -56.93% off the targeted high while a plunge would see the stock lose 21.22% from the levels at last check today.

Kinross Gold Corporation (KGC) estimates and forecasts

Figures show that Kinross Gold Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 45.85% over the past 6 months, with this year growth rate of -48.84%, compared to -2.10% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -72.00% and -70.40% for the next quarter. Revenue growth from the last financial year stood is estimated to be -8.20%.

3 analysts offering their estimates for the company have set an average revenue estimate of $954.51 million for the current quarter. 3 have an estimated revenue figure of $970.85 million for the next quarter concluding in Dec 2021. Year-ago sales stood $1.16 billion and $1.2 billion respectively for this quarter and the next, and analysts expect sales will shrink by -17.60% for the current quarter and -18.80% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 32.30% over the past 5 years.

KGC Dividends

Kinross Gold Corporation is expected to release its next earnings report between February 14 and February 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.12 at a share yield of 2.53%. The company’s dividend yield has gone up over the past 12 months.

Kinross Gold Corporation (NYSE:KGC)’s Major holders

Insiders own 0.88% of the company shares, while shares held by institutions stand at 71.58% with a share float percentage of 72.21%. Investors are also buoyed by the number of investors in a company, with Kinross Gold Corporation having a total of 553 institutions that hold shares in the company. The top two institutional holders are Van Eck Associates Corporation with over 146.67 million shares worth more than $525.09 million. As of Jun 29, 2022, Van Eck Associates Corporation held 11.28% of shares outstanding.

The other major institutional holder is Barclays Plc, with the holding of over 60.45 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $216.41 million and represent 4.65% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Gold Miners ETF and VanEck ETF Trust-VanEck Junior Gold Miners ETF. As of Sep 29, 2022, the former fund manager holds about 5.13% shares in the company for having 66.7 million shares of worth $250.81 million while later fund manager owns 46.96 million shares of worth $176.58 million as of Sep 29, 2022, which makes it owner of about 3.61% of company’s outstanding stock.

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